Iraqi Finance Minister holds discussions with Saudi Investment Minister

Baghdad (IraqiNews.com) – On the sidelines of the 5^th session of the Iraqi-Saudi Coordination Council held in Saudi Arabia, the Iraqi Minister of Finance, Taif Sami, met with the Saudi Minister of Investment, Khaled Al-Falih, where they discussed issues related to the economy, finance, and investment, as well as developing partnership with Saudi Arabia in different sectors, according to a statement issued by the Iraqi Finance Ministry.

The meeting addressed ways to strengthen the bilateral relations between both countries, through cooperation in the fields of finance and economy, the statement mentioned.

The two ministers also discussed the activation of memorandums of understanding signed between the two countries, particularly the ones related to the banking sector and investment opportunities in Iraq, in addition to facilitating the procedures required to allow Saudi businessmen to invest in Iraq.

Sami highlighted the need to enhance the relations with the Saudi partners and to strengthen strategic and investment relations to serve the interests and the people of the two countries.

The Saudi-Iraqi Business Council and the Saudi-Iraqi Economic Forum are scheduled to be held on the sidelines of the session of the Coordination Council, where Iraqi and Saudi businessmen are expected to attend, the statement clarified.

Iraq and Saudi Arabia established the Iraqi- Saudi Coordination Council in 2017 to strengthen the relations and communication between the two countries.

The establishment of the Iraqi- Saudi Coordination Council also aims to promote bilateral relations in terms of economy, development, security, investment, tourism, culture, and media, and to coordinate policies and approaches towards international and regional issues.